AGI Inc's (NYSE:AGBK) Lock-Up Period To End on August 10th

Key Points

• AGI’s lock-up period expires August 10, allowing insiders and major shareholders to sell shares. The company issued 20 million IPO shares at $12 each, raising $240 million.
• Analyst sentiment is mixed but leans cautious: AGI has a consensus “Hold” rating and an average price target of $15.86, with recent downgrades including a “Strong Sell” rating from Zacks Research.
• AGBK shares opened at $7.12, near the lower end of their 52-week range of $6.32 to $12.21. AGI slightly exceeded quarterly EPS expectations at $0.26 but reported revenue of $260 million versus the $445.13 million consensus estimate.

AGI's (NYSE:AGBK - Get Free Report) lock-up period is set to expire on Monday, August 10th. AGI had issued 20,000,000 shares in its initial public offering on February 11th. The total size of the offering was $240,000,000 based on an initial share price of $12.00. After the end of AGI's lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Analyst Ratings Changes

AGBK has been the topic of several research analyst reports. Weiss Ratings began coverage on shares of AGI in a research note on Tuesday, May 12th. They set a "sell (d)" rating on the stock. Susquehanna set a $14.00 price objective on AGI in a report on Friday, May 8th. Zacks Research lowered AGI from a "hold" rating to a "strong sell" rating in a research report on Thursday, July 16th. Finally, Itau BBA Securities cut AGI from an "outperform" rating to a "market perform" rating and set a $9.00 target price for the company. in a research note on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $15.86.

AGI Stock Up 0.4%

Shares of NYSE AGBK opened at $7.12 on Monday. The company has a market cap of $1.14 billion and a price-to-earnings ratio of 22.98. AGI has a 1 year low of $6.32 and a 1 year high of $12.21. The company has a 50-day simple moving average of $7.00.

AGI (NYSE:AGBK - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.01. The business had revenue of $260.00 million for the quarter, compared to the consensus estimate of $445.13 million.

AGI Company Profile

Our mission is to revolutionize financial services for the largest and fastest growing segment of Brazil's population: individuals who have been underserved by incumbent banks and have not been effectively reached by digital-only banks. We seek to make credit and banking solutions more accessible and affordable for the Brazilian consumers who we believe need it the most, including social security beneficiaries and private and public sector workers. We have designed a unique value proposition for this population, who may be older, have a lower income, be less tech-savvy or have less access to education.

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